Breaking: Multichain Suspends Cross-Chain Services, Fails To Contact CEO

Crypto News: Multichain, a cross-chain router protocol (CRP), has been experiencing what seems to be an endless stream of technical difficulties, with the team currently unable to contact its CEO amidst the ongoing drama surrounding the operational issues. In a message posted on its official Twitter account on Wednesday, the team explained that unforeseen circumstances have caused multiple issues for the Multichain protocol, leaving them unable to access necessary servers for maintenance.

Multichain Struggles To Resolve Issues

According to the statement released, an issue with the scanning node network of Router5 has impacted the normal cross-chain service of several chains. The team emphasized that the problem exceeds their current permissions and abilities. However, in order to protect the interests of their users, the Multichain team has made the decision to suspend the corresponding cross-chain service for the affected chain on the user interface. According to the team, a similar issue had transpired last week albeit on the Router2 node.

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In light of these challenges, the team has also requested their partners to refrain from directly calling the Multichain protocol smart contracts for cross-chain operations on or to the affected chain.

In the past two days, the Multichain protocol has experienced multiple issues due to unforeseeable circumstances. The team has done everything possible to maintain the protocol running, but we are currently unable to contact CEO Zhaojun and obtain the necessary server access for…

— Multichain (Previously Anyswap) (@MultichainOrg) May 31, 2023

Suspends Cross-Chain Services For Affected Chains

As reported earlier on CoinGape, the rampant technology issues faced by the Multichain protocol as well as rumors surrounding the whereabouts of its team — including speculation of their arrest in China — has left a severe dent on its brand which is heavily marketed as the “ultimate router for Web3.0”.

As things currently stand, the chains affected by this development include Kekchain, PublicMint, Dyno Chain, Red Light Chain, Dexit, Ekta, HPB, ONUS, Omax, Findora, and Planq. Meanwhile, in the wake of this crypto news, the price of MULTI — Multichain’s native cryptocurrency — dropped by 0.25% in the past hour as compared to a gain of 3.16% over the last 24 hours. At the time of writing, MULTI is currently exchanging hands at $4.13.

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